Exercise 11-16A (Algo) Determining the effects of stock splits on the accounting records LO 11-7The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $270 pershare. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 310,000 outstanding shares of its$12 par value common stock.Requiredb. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimalplaces.)Number of common shares outstandingPar value per share after the split

The 3 for 1 stock split means that 3 shares would be issued against one share. The stock split do…

Answered: Exercise 11-16A (Algo) Determining the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2 Calculate the annual cash dividends required to be paid for each of the following preferred stock issues Required: a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the company) Note: Round your answer to 2 decimal places. b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding Note: Round your answer to 2 decimal places. c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000 shares outstanding. a. Annual dividends b. Annual dividends Annual dividends
Effect of Stock Split a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $95 per share before the stock s plit, what would be an approximate market price per share after the split? per share
Effect of Stock Split Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 39,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $84 per share before the stock split, what would be an approximate market price per share after the split?$ per share
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Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion has the following transactions during the year related to stockholders’ equity. February 1 Issues 4,900 shares of no-par common stock for $14 per share. May 15 Issues 700 shares of $10 par value, 7% preferred stock for $11 per share. October 1 Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Cash Accounts receivable Fixed assets Total assets Assets Accounts payable Notes payable Common stock (110,000 shares @ $4 par) Capital in excess of par Retained earnings Total liabilities & owners' equity Common stock Capital excess of par Retained earnings Total equity Liabilities Common stock Capital excess of par Retained earnings Total equity The firm's stock sells for $13 a share. a. Show the effect on the capital accounts of a two-for-one stock split. (Do not round intermediate calculations and round your answers to the nearest whole dollar.) Effect of Stock Split $ 0 80,000 328,000 747,000 $1,155,000 b. Show the effect on the capital accounts of a 10 percent stock dividend. Part bis separate from part a. In part b, do not assume the stock split has taken place. (Do not round intermediate calculations and round your answers to the nearest whole dollar.) Effect of Stock Dividend $ 264,000 58,000 440,000 100,000 293,000 $1,155,000 0
Effect of Stock Split Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 45,000 shares of common stock outstanding, declared a 3-for-1 stock split.
Exercise 10-13 (Algo) Record stock dividends and stock splits (LO10-6) On September 1, the board of directors of Colorado Outfitters, Incorporated, declares and issues a stock dividend on its 11,000, $2 par, common shares. The market price of the common stock is $31 on this date. Required: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Next >
A B FOR GRADIN PROBLEM 1 (5 POINTS) F G H Laurin Limited had 101,000 shars outstanding on Jan 1, Y4. On March 31, Y4 Laurin issued 23,000 shares in exchange for equipment On July 1, Y4 Laurin repurchased and cancelled 24,000 shares On October 31, Y4 Laurin declared and issued a 20% stock dividend REQUIRED Calculate Laurin's weighted average number of shares outstanding at Dec 31, Y4. Event Dates Outstanding Shares Fraction Weighted Outstanding Restatement of year Shares Beg bal 1/1-3/1 101,000 1.20 0.17 20,200 sold shares 3/1-7/1 124,000 1.20 0.33 49,600 repurchased 7/1 - 10/1 100,000 1.20 0.25 30,000 stock div 10/1 - 12/31 120,000 0.25 30,000 129,800
8. Fill in all of the blanks
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Effect of Stock Split Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey's Grill & Restaurant, which had 27,000 shares of common stock outstanding, declared a 4-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $240 per share before the stock split, what would be an approximate market price per share after the split? per share

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